Production capacity of Turkey’s Petkim jumps
Turkey’s Petkim petrochemical complex has increased its
production capacity from 3.2 million to 3.6 million metric tons per
year, Azerbaijan’s state energy company SOCAR reported.
SOCAR has a 61.32-percent share in Petkim complex.
The company said that Petkim’s production capacity has increased
as a result of investing $144 million in the plants for production
of ethylene and purified terephthalic acid.
As a result of the carried out work, the capacity of the ethylene
production plant alone has increased from 520,000 to 588,000 metric
tons.
It is planned to commission a new wind power plant there in late
2015, according to SOCAR. The implementation of the first stage of
this project, will allow to meet 12 percent of demands of the
complex for electricity.
The total capacity of the power plant will be equal to 50 megawatt,
while the capacity of the first phase is expected to hit 25
megawatt.
SOCAR Turkey Enerji A.Ş and SOCAR International DMCC OGG acquired a
10.32-percent stake in the Petkim petrochemical complex, increasing
their stakes to 61.32 percent on March 30, 2012. Some 38.67 percent
of the shares are in free circulation on the Istanbul Stock
Exchange.
Petkim Petrokimya Holding manufactures plastic packaging, fabric,
PVC and detergents being the only Turkish producer of such
products. The holding exports a quarter of its products.
SOCAR includes Azneft (a production association of enterprises that
produce oil and gas on land and sea), Azerkimya (a production
association of chemical industry enterprises) and Azerigas (deals
with distribution of gas in the country).
The company also includes a number of processing and service
enterprises, and institutions involved in geophysical and drilling
operations.
SOCAR is the sole petroleum products manufacturer in Azerbaijan
with two oil refineries. The company owns filling stations in
Azerbaijan, Georgia, Ukraine, Romania and Switzerland.